Rahul Gandhi doesn’t represent any one interest group: Sachin Pilot

After piloting the Companies Bill in the Lok Sabha within weeks of taking charge of the corporate affairs ministry, Sachin Pilot wants to quickly get the bill approved by the Rajya Sabha. He also wants to do his bit to improve the business environment, even as he confidently tells Anandita Singh Mankotia & Vinay Pandey that the government will last its full term. Edited excerpts:

The slow economic pace has given rise to corporate pessimism in the country...

I think the global economic sentiment has a large role to play. However, I feel the Indian corporate sector should have more pride and remain committed to India growth story. In the next six months, you will see a turnaround. The Cabinet Committee on Investment is one such attempt.

You instituted the Damodaran committee to suggest ways to improve India's ranking on the global business index. How do you plan to take this forward?

As soon as the report comes in, I will study it and forward it to the cabinet and the PMO. I think a country with the size scale and scope of India doesn't deserve to be at 132.

It is wrong to cry foul over being ranked too low and only blame the methodology, we need to look within. We need to study the parameters where we lack on the index and then surgically work on them because we need to send out a more encouraging message to the investor community.

Is your ministry planning to investigate the Sharda Group, which has gone bust in West Bengal?

The chit fund act is actually administered by the state government and these companies have to be registered in the state. I'm told the state government has taken some action. Nevertheless, we have received some complaints from other areas too on this matter and we are reviewing the matter.

Do you concur with the Financial Sector Legislative Reforms Committee's report of setting up an overarching regulator?

Nobody likes to give up their fiefdom, but one has to take a nationalist view on this. I think too many regulators isn't a great idea. While I also think just one entity looking at so many sectors may be a bit complicated.

So you need to have an arrangement where there is no multiplicity of efforts and no duplication and overlap of domains but still more cohesion. I think there are gaps between various regulators and some companies have been trying to misuse those gaps, especially the NBFCs, either they should fall completely within the ambit of RBI or not.

When will the Companies Bill come up in the upper house?

I have spoken to the minister for Parliamentary Affairs Kamal Nath and the Rajya Sabha officials who have told me that they will take it up very soon.

Can we expect early elections?

This 'early election' fever seems to be a media creation. I'm not a soothsayer, so I can't really predict but I don't think people are keen to have mid-term elections. The government will run its full term.

Increasingly it looks as though the next election is going to be a contest between Narendra Modi and Rahul Gandhi...

I find this amazing how people are talking about it. However, I also wonder what is holding BJP back from declaring Narendra Modi as its PM candidate. If he is such a great vote catcher let them at least declare that he is their candidate and then we'll see what happens in the elections.

What about Congress' PM candidate and Rahul Gandhi's role?

Our PM has done a great job and there is no vacancy for the post yet. It is only those who are seeing these mirages of grand illusions of becoming the PM in the BJP are trying to shape it up as a personality contest between the two.

In fact, within the BJP itself a dozen leaders are aspiring to become the next prime minister. Like I said, if there is such a tremendous gusto and confidence in Modi, then let them come out and declare Modi as their PM.

On Rahul Gandhi, I certainly see him lead the party in the 2014 polls. There should be absolutely no ambiguity about him leading us from the front.

UP CM Akhilesh Yadav has said that Rahul Gandhi represents only the industry's interests...

Congress represents all sections of the society, ranging from industry to agriculture. For a few parties, it is okay for sloganeering to fight elections and win those 10 or 20 seats...this kind of view that your few MPs are going to be crucial enough for you to be able to take policy making hostage is too narrow and shallow.

Rahul Gandhi doesn't represent any one interest group. He genuinely takes on issues which affect all interest groups of the society, industry and economic growth is just one of them.